Agreed Values

[Revvit]

What kind of agreed values are people getting these days from their insurers?

I have a 1998 4.5 with refurbished chassis, new running gear, rebuilt engine, re-trim, re-spray, etc. etc., so virtually a new car, and Footman James say that £45k is not in line with market guidelines???

[ukkid35]

Unless things bounce back unfeasibly quickly, with nearly 30% wiped off the FTSE and about 26% off the S&P500, I reckon we can expect values to return to those seen just after 2008

With Italy closed, and their banking sector seen as the weakest link in the European financial system, when their banks start to fail (bond yields are now very high) things will get really unpleasant, with financial contamination moving even quicker than COVID-19

I imagine this could result in a significant increase in car claims as the agreed value will likely bear no resemblance to market value

Let's hope these are not generated by car fires, because there won't be anything left for the rest of us to use from these write-offs

[CerbWill]

Las year the car club valued my 84k mile 1996 4.2 at £38k after a body off refurb, respray, retrim and engine rebuild to 4.7L.

[gruffalo]

A valuation and justification was written by a specialist and accepted by Footman James for a £40k agreed valuation.

[Revvit]

It does feel like £40k is the tipping point.

However, I wouldn’t be able to replace my car for that.

[STE VR]

Not a Cerbera but a T350c. Fully restored and Classicline agreed it for £45k. Cost me more than that!!

These cars are worth the money. Easily.

[gruffalo]

Revvit said:

It does feel like £40k is the tipping point.

However, I wouldn’t be able to replace my car for that.

Neither would I but it doesn't matter, all the insurance company is interested in is market value and you wouldn't be able to sell your car and make back what has been spent either.

[Byker28i]

CerbWill said:

Las year the car club valued my 84k mile 1996 4.2 at £38k after a body off refurb, respray, retrim and engine rebuild to 4.7L.

same for my 1997 60K mile. body off chassis rebuild, engine rebuild, respray...

Did Mervyn also add that your was one of the best around

[CerbWill]

Byker28i said:

same for my 1997 60K mile. body off chassis rebuild, engine rebuild, respray...

Did Mervyn also add that your was one of the best around

No

[Byker28i]

CerbWill said:

Byker28i said:

same for my 1997 60K mile. body off chassis rebuild, engine rebuild, respray...

Did Mervyn also add that your was one of the best around

No

Ah thats something then, thought he was cut and pasting

[LLantrisant]

market value and insurcance value are completely different.

the insurance has to value a car due to the reinstatement costs.


market costs are often far lower.

see here:
4.5 AJP, Body Off refurb sold vor 17k

https://www.ebay.co.uk/itm/tvr-cerbera-4-5-1998/13...

Edited by LLantrisant on Saturday 21st March 07:19

[Byker28i]

Values vary. Good chassis maybe but an engine rebuild and lots of other bills add to value, as does warranty from a know dealer.
Take a look at St8Six price for top values. I know he's just sold one.
http://www.str8six.co.uk/

[philburch]

Had my 2003 Tamora with a full chassis refurb,4-3 powers engine (previous owner) valued by the tvr car club at £35.000 .Footman James would only go to £33.000 agreed value.At least i would get my money back if it was written off.